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's not a quote median-term deficit reduction plan put in place. what will it take to get a deal? we start with dan gross. his latest piece is titled "obama brinksmanship puts gop in tough spot on debt ceiling." so dan, you write that while you fall off a cliff, you only bump your head in to a ceiling but economically the ceiling has the capacity to deliver far more damage. you are talking like my friend steve kornacki here. what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount of leverage and interconnected with everything else and sort of see what happened in 2008. it's also this issue of, you know, who gets paid? if you start to have to say maybe soldiers g
, spencer michels asks california governor jerry brown if his fiscal turnaround-- from a $27 billion deficit to a balanced budget-- offers a lesson for the nation. . >> you have to make tough choices. you have to live within your means. that means you have to not do everything you want to but you also have to raise more money. >> woodruff: and ray suarez examines a surge in suicides by u.s. troops last year, far exceeding the number killed in combat in afghanistan. that's all ahead on tonight's newshour. >> major funding for the pbs newshour has been provided by: >> sailing through the heart of landscapes and river you see differently. you get close to iconic landmarks, to local life, to cultural treasur. it's a feeling that only a river can give you. these are are journeys that change your perspective on the world. and perhaps even yourself. viking river cruises. exploring the world in comfort. >> bnsf railway. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy, productive life. >> a with thengog suport these instituti
set our country on a path that will allow us to get our debt to g.d.p., our deficit to g.d.p. down around 3%, which is the basis of all economists left, right and septemberer all agree on the areas we can begin to grow as a country. and as my grandfather used to say with grace of god and goodwill of the neighbors, cooler heads will prevail now between now and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. but i didn't come here to talk about any of those important subjects today, because as important as they allr today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an incredible debt of gratitude to you at the head table and those of you in the room. i know we don't have you nan hit in this ballroom nor do we in any ballroom, but we all acknowledge that we have to do some
proclaimed his state's huge budget deficit had disappeared. but some politicians in the golden state are skeptical. newshour correspondent spencer michels sat down with brown in san francisco. his report is a co-production with our colleagues at kqed-san francisco, and begins with some background on the fiscal troubles and the budget fix. >> reporter: california's sorry financial state and cuts made to health and welfare programs have prompted nearly nonstop demonstrations at the state capital in recent times. those protests got going four years ago when california and its then governor republican arnold schwarzenegger faced a staggering budget deficit of $42 billion. the recession, built-in spending, a large population in need of state services like health and welfare, a limit on property taxes, plus republican legislators' refusal to raise taxes created a dilemma in the world's ninth largest economy. with budget cuts coming like clock work, the state's college and university systems declined in offerings and in reputation. schools suffered cutbacks in personnel and programs. servic
isn't a very good one for them. working on deficit and spending budget is better for them. >> reporter: what do democrats say about passing a budget today. >> reporter: chuck schumer said the senate would pass a budget this year. the battle will be over spending cuts and what is included in that very budget. yesterday with the top congress alleaders at his inaugural luncheon president obama called for working together. >> i recognize that democracy is not always easy, and i recognize there are profound differences in this room, but i just want to say thank you for your service, and i want to thank your families for their service, because regardless of our political persuasions and perspectives, i know that all of us serve because we believe that we can make america for future generations. >> reporter: first challenge will be that debt ceiling vote tomorrow the first of many fiscal issues to be tackled in this new term. >> reporter: let the games begin. mike emanuel, thank you very much. what is the likelihood of a senate budget resolution. coming up minutes from now we'll speak to one
. >> peter this is an important point. the deficit isn't the product of spending. the economic down turn has left americans making less money in terms of spending. >> we spend each year more than we brought in. >> spending and revenue. our revenue has decreased and american -- >> i got to go. >> i got to go. >> spending budgets they have gone up under president obama and have held at $3.5 billion each year. >> i got to go. we can continue it another time. >> but it is also economic growth which it self might be a function of taxes and spending. if this economy were growing, you would have a substantially lower budget deficit. gentlemen we will welcome you back another time. >> there is at least one state in the northeast that gets it. natural gas shale and it is pennsylvania and the republican governor tom corebet is about to join us. he picks up support from chuck schumer who didn't get an apology for the anti-israel statements. if we were growing at 5% instead of 2% we would be close to a balanced budget today. i'm kudlow we will be right back. at 1:45, the aflac duck was brought in with m
could be here. he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal that has become the defining memo for the effort to try to get that is under control. bob zoellick is fond of quoting a friend of his, the foreign minister of australia. we met a few months ago who said to him the united states is one debt deal away from leading the world out of fiscal chaos and disruption. we are. we truly are. we are a nation on the brink of massive economic expansion. from the place that can't is from, north dakota, you see the change in the paradigm on energy. we will go from importing country to an exporting country. our cost of energy for as far as i can see
for india, given that the country is running something in the range of 4% gdp deficit. the financing of that deficit needs to be on on an orderly basis, whether it's through fdi. the indian authorities are in a point where they simply have no other choice but to become more amenable towards foreign investment. and here, india stands somewhat at a contrast to the rest of the em world, if you think of countries like india or brazil or turkey, how do manage that, how to do that on an orderly basis. in contrast to that, india has been too slow and now their back is against the wall to maintain stable macro environment, they need more flows and therefore, i think the market seems to be comfortable in thinking india has no choice but to remain open for business in a big way. >> you mentioned about two minutes ago rather more foreign investment becoming more amenable to this. i think those were your words. which would be the next sectors or the next stores which would have an interest in doing this? >> there's a host of things going on right now. the authorities have a series of reform sect
economic problems here. there was a $10 billion budget deficit that was much more than expected. that has become a big issue. the rising cost of living here has become a big issue and that's the thought that this precipitous drop, it was that he and his right-wing coalition hash 70 seats projected 2 months ago. they have fallen in the polls and there is now talk of them bringing on board a center party, run by a charismatic television anchor, turped politician. this person is demanding tax cuts for the middle scplases demand that the religious go to war, something that won't sit well with mr. netanyahu's base. going forward, he may have won, but it will be a very uncomfortable and probably tense couple of weeks to figure out which one of his friends he will put together to get to the crucial 61 number. >> neil: completing our trifecta of big stories today, i want to bring your attention to the stock market, up despite an ominous warning from bill gross, pacific income management, owns more treasuries, notes and bonds, save the u.s. government than anyone and warn that this government comi
to see him as the paragon of responsible spending. >> we'll start with the deficit, shrinking more rapidly than at any time since the end of the korean war. in the end of december, we had a deficit for the month of $260 million, not $260 billion, $260 million. which in washington is almost the budget. that's the smallest monthly deficit in five years. some of that is artificial. people pulling transactions forward because they were afraid of higher tax rates in 2013. but for the first three months of 2013, we have a rapidly shrinking fiscal 2013, we have a rapidly shrinking deficit. so we are in a way chasing a vanishing problem. >> which is interesting, and that would allow for some things that are dirty and things that are not so dirty, would completely perhaps get rid of this problem after a while. do you think we're headed for a full stalemate? >> it's such a shame. i think david is right because we have low debt service right now. we're paying less interest on our debt than we had in the reagan and bush administrations before because interest rates are so low. >> but they're g
. on the newshour tonight, we'll examine what the president said about tackling the government deficit and reducing gun violence. >> brown: then, we turn to the west african nation of mali, where french troops have launched air strikes on islamic militants. three jihaddist groups now deemed a clear and present danger to the capital and beyond, a threat to africa and europe. >> woodruff: margaret warner has the story of the suicide of a young internet wizard who was facing federal charges for hacking and distributing online data he thought should be made public. >> brown: ray suarez updates the changes in cuba, where travel restrictions were eased today for citizens hoping to come and go. >> it is still one of the most repressive places in terms of its human rights record but we welcome any liberalization. we hope that will turn out to be one such. >> woodruff: and with rehearsals already under way for next week's inaugural ceremonies, we examine the new rules for raising money for the festivities. >> brown: that's all ahead on tonight's newshour. >> major funding for the pbs newshour has been provi
trajectory, reduce the deficit. >> lagarde gave her view on thursday. she supported a 2% inflation target which abe asked the bank of japan to set. she said it's a good idea if the central bank can maintain its independence. more business news next hour. here is a check on markets once again. >>> japanese prime minister has conveyed his concern. the two leaders met in the thai capital of bangkok. abe touched on the issue of the senkaku islands in the east china sea. the islands are controlled by japan but claimed by china and taiwan. he said chinese ships repeatedly violated the waters around the island and the country's plane entered japanese air space last month. he say it's crucial to deal with the issues in accordance to law. she offered her understanding for japan's position. she said thailand will play a constructive role in improving relations with relevant nations. >>> diplomats have agreed to urge the un security council to punish north korea for its latest mission law firm. japan's lead envoy in the six-party talks on north korea's met his south korean counterpart in seoul on th
invests to see our economy grow. the one silver bullet in deficit reduction is economic growth. we need to get out of this circle we're in right now and start talking about growth. how we start moving the economy forward because we'll never get out of the hole otherwise. melissa: stephen, that is a great point. do you move the economy forward and grow by raising taxes, do you think. >> president obama at one point believed we do not. he argued in twine and 2010 you would hurt economic growth if you raised taxes at time the economy was struggling. that is what he argued at time. melissa: what do you think, steven. raising taxes grows the economy or -- >> no, it does not grow the economy. we have to be serious how much the president contributed to overall debt picture. $6 trillion since he came to office. nearly $20,000 per united states citizen has been added since president obama came into office. so just silly to argue he hasn't contributed. melissa: blame game gets us nowhere because everybody contributed to it. god it is a mess and we have to fix it. when you hear people like nancy p
budget laid out a plan how to deal with america's biggest problems, our debt, deficit and ongoing spending. if we don't reform we'll end up bankrupting this country and it is unfair to the next generation not to stop this. it is time for the senate to step up and act. bill: republicans referencing the speech from yesterday with one reference to the deficit. if no debt limit is reached, however, the government could default on its obligations within weeks so watch that story. martha: well, this is an interesting one. pro golfer, phil mickelson, doing a little bit of backpedaling today saying he regrets the public comments he made on the issue of his taxes in california. mickelson said he may move out when he made the original comments, of the state, because all taxes combined end up to more than 60% tax rate. now he is telling fox news contributor jim gray, quote, finances and taxes are a personal matter and i should not have made a opinions of, on them public. i apologize to those who i have upset or insulted and i assure you i intend not to let it happen again. why would he feel
that with the government facing another trillion dollar deficit this year, any increase in borrowing authority must be tied to cuts in spending. the president flatly disagreed. >> i want to be clear about this. the debt ceiling is not a question of authorizing more spending. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> brown: the 2011 stand-off between the president and republicans over the debt ceiling led the nation to the bryning of national default. standard and poors even lowered its rating on u.s. government bonds. today, president obama said any repeat performance would be, quote, irresponsible. >> if the goal is to make sure that we are being responsible about our debt and our deficit, if that's the conversation we're having, i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people. >> brown: at the same time, the president rejected urgings by some de
in spending in exchange for raising the borrowing limit. he says trimming the budget deficit should be a different discussion. >> to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. >> house speaker john boehner responded to this by saying the american people do not support raising the debt ceiling without reducing government spending at the same time. you can see the battle lines there very clearly. are you in hawaii or headed there? think twice. beware of getting in the water. check out this video. that's right, sharks near oahu's yokohama beach, two sharks were spotted swimming very, very dangerously close to the shore. i hope that guy's feet are not in the water. >> wow, that is super shallow. >> if steve stockman was serious he would have mentioned secession. secession is the line -- >> that's so old. >> i'm just saying. >> don't open any can of worms when i need to go to a break. >>> polls are showing more americans support tougher gun control laws. is there any common ground in washington, d.c.? we'll talk with
billion deficit to a balanced budget-- offers a lesson for the nation. . >> you have to make tough choices. you have to live within your means. that means you have to not do everything you want to but you also have to raise more
the primary balance by reducing the deficit to half by fiscal 2015. but the draft fell short of setting a specific limit on the issuance of japanese government bonds to finance the budget, as the previous administration of the democratic party did. it only urges the government to keep bond issues to a minimum. >>> executives at struggling chipmaker renesas electronics say they need to slash their workforce even further. they're planning a 10% staff cut through a voluntary retirement program. renesas is one of the world's largest suppliers of microcontroller chips. managers told the company's labor union that they'll offer early retirement to about 3,000 employees aged 40 and older. the plan is part of restructuring efforts put in place after the company reached a deal on a rescue package with investors. the deal will allow renesas to receive about $2.3 billion from a state-backed fund and several business partners. the chipmaker cut 7,400 jobs through an early retirement program in october. >>> japan's nissan motor will slash domestic prices on its electric cars. that's to boost sluggis
and allow us todú create jobs here. deficit reduction is really good for us. we support the simpson-bowles. it hurts everyone. it shows sacrifice is painful, even for us. he needs stability in the finances of our country. everyone needs to stand up on both sides, republicans and democrats. those are the big issues for us. there is another one that affects innovation. lawyers. from the smallest art to the biggest companies, we need more certainty. dúdo not violate patents and do not peak -- do not put people out of work. dúthere needs to be some certaiy in the system. >> do a lot of members of congresseú -- what do you want them to leave with? >>dúdú we try to reach as many officials as possible. certainly member members of the congressional staff, people from the highway administration, we want people to come here and see the real world. you cannot learn in washington word dealing people who ask are given information. dúshe said, you have to come he. let me tell you, the rules are so tough. they are working the whole time. every major tech company is here. we have 3500 people
inauguration speech. he warned america must make tough choices to cut the deficit, and he pledged to support democracy from asia to africa and from the americas to the middle east. we will be live in washington in just a moment, but first this report. >> this is the day he fought so hard for. president barack obama begins his second term and gets another chance to change america. >> i swear i will faithfully execute -- >> it was a smaller crowd than the last time he took the oath of office, but he tried to inspire. >> you and i as citizens have the obligation to shape the debate of our time not only with the votes we cast but with the voices we live in defense of our most ancient values and injuring ideas. -- answering ideas. >> he believes he needs to get the american people involved if he has any chance. from climate change to the tax code, immigration to education, he promised reform. >> we will support democracy from the americas to the middle east because our interests compel us on behalf of those who long for freedom. >> every word was meant to reinforce his aggressive agenda. >> our a
to live on what they own. they have a 40 billion shekel deficit. we have to stop talking about whether it is yes or no to palestine. >> he opposes a palestinian state. his message has struck a chord, particularly with voters under the age of 30. this man is voting for the first time. >> i think he can really change things for israel. what's the most recent opinion polls suggest he could wind up to 15 seats, unlikely to threaten netanyahu's reelection to, but losing votes to other parties always comes with a risk attached. they could build a bloc to bar agreement. the former television journalist sees himself of a defender of the secular middle class and it wants to govern. >> it would be a very bad thing for israel to have a government that is bound by the extreme- right. then we have a greater isolation within the international community, an economy that will suffer. what we need is some sort of a government issued across the border. >> the labor party has a new rising star. he was one of the leaders of the social protest movement. he is 8 on the internal list. labor in second place i
the deficit to half by the fiscal year of 2015, but the draft did fall short of setting a specific limit on the issuance of government bonds to finance the budget as the previous administration turned democratic party did. it only urges the government to keep bond issues to a minimum. >>> well, executives at struggling chipmaker electronic says they need to slash the workforce further. they are planning a 10% staff cut through a voluntary retirement program. renesas is one of the largest suppliers of microcontroller chips. the managers told the company's labor union they will offer early retirement to about 3,000 employees aged 40 and older. the plan is part of restructuring efforts put in place after the company reached a deal on a rescue package with investors. the deal will allow renesas to receive $2.3 billion from the state-backed fund as well as several business partners. the chipmaker cut early retire, that was back in october. >>> japan's nissan motor will slash domestic prices on its electric cars and that's in an effort to boost sluggish sales of the eco-friendly vehicles. nis
term deficit reduction plan." you will recall that standard & poor's did downgrade the u.s. debt last august after the debt ceiling was raised amidst 11th hour suspense. it was blamed on bringmanship to use the debt creeling to get spending cuts. s&p did cite the melodrama as part of the reason but placed emphasis on the view that the debt ceiling deal fall short in what our view would be necessary to stabilize the government median term debt dynamics. translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has already passed. the laws that it's already passed. republicans are saying it's about borrowing authority. essentially running up the country's credit card. >> exa
in the economy. they worry about interest rates going up and they worry about the impact on our deficit. because when interest rates go up, that means the deficit will go up. so we make the problem worse by taking this route if we go down this pathway. >> i want to throw three terms at you that we've had to stomach out in america. debate over the fiscal cliff, the debate over the debt ceiling and the budget show dunn. all three of these very serious. but which is the most serious. >> the debt ceiling could do damage to our countries for decades to come if we hit it and don't expect the problem. this is the most dangerous thing. this is almost a nuclear option. this is really playing with very dangerous things. and one little mistake could be devastating to our country. >> and yet you still come on day after day and smile with me. thank you. always good to see you. >>> by the way, i just want to remind you if you're doing the math, the treasury says it might come up short in its payments as soon as february 15th. ♪ [ male announcer ] some day, your life will flash before your eyes. make it wort
. leading republicans are saying without a budget that includes a real plan to reduce the deficit, the nation faces the threat of a credit downgrade. bret? >> bret: mike, thank you. sticking with the tet and deficit issues, lawmakers on both sides of the aisle are talking about what to do in a worse case scenario. the government not having enough money to pay its bills. chief political correspondent carl cameron reports on a possible short-term solution that is getting a long look by some people. >> with the white house refusing to negotiate spending cuts and the democrat controlled senate unlikely to pass a budget as part of a long-term deal to raise the tet ceiling, pat toomey of pennsylvania is reintroducing legislation he says will avert the u.s. from defaulting on the debt. >> we must prioritize three categories of payments. one would be debt service, interest on the debt so we would haven't default. a second would be social curt payment to seniors so they don't worry whether the check is coming or not. the third is pay for the active duty military personnel. >> the white hou
to a balanced budget. consider we have deficits of a trillion dollars plus. that is not an easy task even for those of us at the cato institute you want a dramatically smaller federal government. it does not mean default. the federal government is collecting ten times as much revenue as needed to pay interest on the debt. gerri: to that point, legislation that would force the treasury to prioritize spending in deciding what bills to pay. the treasury is getting money in every single day. tax dollars don't just come in on april 15th. they come in all the time. >> and the president will be forced to do what you and i and every other american have to do and that is prioritize expenses. if we would not default, prioritize that which must be paid first and then make tough oices as to what is necessary and proper for our government to be spending. that is what we should be doing every day and is, quite frankly, why this president has failed to lead because he just does not believe it. he believes there is no end, and at the end of his term will be somebody else's problem. gerri: it will. >> but
when you're running a merchandise trade deficits and current account deficits. these are the things that really matter. and they're just kind of big macros. so they divide them down to a single session or a quick abrupt move. but they're the real flows in the global economy that are going to matter going forward. >> yeah, all right. i'm staying long. i'm staying long, kevin. >> well, we think last year we gave it a bite on the cheek. but that's going to be a lot harder this year, joe. and one of the things you're pointing out are extremely high gdp. and so the big thing this year is to make the switch. the customers are now the employees. the employees are the future customers. so you've got to keep the growth and accelerate the growth in employment over the 1.25/1.50 that we're doing if we're going to keep the equity market going in the direction that it has been for the past two years. >> all right, kevin ferry. thank you. >> is that a phone ringing down there, kevin? >> yeah. someone is trying to get to their broker. >> it would ring and ring and ring. >> that must drive you craz
a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign about it. by the way the american people agreed with me that we should reduce our deficits in a balanced way that takes into account the need for us to grow this economy. martha: bob beckel is former democratic campaign manager and cohost of the five. mary katherine ham is editor at large and fox news contributor. why do you think it was so testy yesterday? >> obama's best form is not necessarily a press conference which is why he does than do many of them. i which he was testy for one real reason. the republicans trying to take the full faith and crucify the united states currency and putting it at fist being. i'd invoke the 14th amendment, we'd problem below know that if we spent more time with the republicans wasting time on the floor of the house. i thought he ought to raise it and to hell with congress. martha: we talked to stewart varney and kirsten said in that sound byte, this isn't about default, people don't think we aren't going to pay the debt o
news conference this week where he said if -- if this debate is just about reducing the fiscal deficit, he's on board and let's get it done, but he suspects that there are a lot of conservative republicans out there for whom this debate is about the bigger picture of the role the federal government plays in americans' lives, and he said that's not a debate he wants to have. he doesn't want to be cutting entitlement programs just because conservatives want to reduce the role of government in americans' lives. is it possible we're having two simultaneous debates at once here? >> well, he's got to reconcile the differences. almost like saying i know i'm overweight but don't ask me to go on a diet. i mean, there's got to be efficiencies found in the federal government. the fact that we're cutting spending doesn't mean that we don't continue to provide services to people. >> but it will take date where the spending cuts i made is the point he's making. you can talk about military cuts which is what he would i think be going after as opposed to the entitlement cuts that the republicans want
damaging to our economy. i think it would actually add to our deficit, because it will impede growth. >> reporter: another more immediate political fight for the president, confirming his pentagon nominee, chuck hagel, a republican, who got a boost on "meet the press" sunday from former republican secretary of state, colin powell, who used the occasion to take a larger, deeper shot at the gop. >> there's also a dark -- a dark vein of intolerance of some parts of the party. what do i mean by that? what i mean by that is, they still sort of look down on minorities. how can i evidence that? when i see a former governor say that the president is shuckin' and jivin'. that's a racial era slave term. >> reporter: now, brian, the issue of the lack of diversity in the president's second-term appointment so far came up at the press conference today, and the president simply asked for more time, defended his record of diversity in the first term and said wait until he's finished with all of his appointments. >> chuck todd on the north lawn of the white house for us tonight. chuck, thanks. >>> o
an indepth look on how to plan, how he plans to fix the deficit and whether or not it's going to work as he suggests. during sleep train's huge year end clearance sale, get beautyrest, posturepedic, even tempur-pedic mattress sets at low clearance prices. plus, get free same-day delivery, set-up, and removal of your old set. and through monday, get 3 years interest-free financing on selected models. but hurry, the special financing offer ends martin luther king, jr. day. don't miss the year end clearance sale at sleep train. superior service, best selection, lowest price, guaranteed. ♪ your ticket to a better night's sleep ♪ >>> president obama struggling with the debt ceiling, that's always a fun comedy premise. wow. this will be good. debt premise. no, president obama told congress it must raise our debt limit because the u.s. is, quote, not a deadbeat nation. yeah. and the president added, by the way, if china calls, i'm not here. >> conan o'brien poking fun at the latest financial crisis. comedians, of course, joking about it. the country's debt, one of the big issues facing the pre
began the fiscal year with $876.05 in the bank and a projected deficit of $500 million, even after taxes had been increased. i think a number of you remember that as well. working with the legislature, we ended last fiscal year with a $500 million ending balance, a billion dollar swing to the good and we paid off all of our callable bonds. good job, legislature. [applause] we are now in a strong fiscal position. the last decade was unfortunately a lost decade where kansas lost thousands of private sector jobs while the rest of america grew. in december 2010, our unemployment rate was 7%. today our state's unemployment rate is 5.4%, the 10th lowest in america, and wichita state university projects we will add more than 24,000 private sector jobs in the state this year alone. that's good news. [applause] when i started as governor, we had the highest state income tax in the region, now we have the 2nd lowest and i want us to take it to zero. look out texas, here comes kansas. [applause] in the previous decade, we had population losses of more than ten% in nearly half of our counties. today
changes. belief it or not we care more than anything else about the health of the economy, so deficit reduction is really big for us. we support the simpson-bowles, we're the only association that does. it hurts etch, it's shared sacrifice, it's painful even for us but we need stability in our finances as a country, and every responsible business should stand up and say that, and we're urging both sides -- republicans and democrats -- to recognize the pain has to be spread around. there's some things, patent controls that effects innovation. basically, people don't produce anything but lawyers. it's not really a good way to get a society. and from the smallest start-up to the biggest economy everyone's saying we need more certainty, you shouldn't be putting people out of work in actively-of run companies if they're don't even think they're breaking someone's patent. there has to be some certainty. >> host: do a lot of members of congress fcc, other officials attend here, and what do you want them to leave with? >> guest: we try to get as many officials as possible. of we have every co
deficits, california's budget is balanced. increased tax revenues are credited for balancing our budget. >>> well, if you haven't gotten the flu yet, you probably know someone who has. so far, california has not been hit as hard as the rest of the country. but doctors say that could change. cbs 5 reporter kiet do found out the best way to protect yourself is in short supply. >>> reporter: despite signs beckoning customers inside for a flu shot, nearly all cvs pharmacies in the bay area have run out. from san francisco to san jose, redwood city to union city, the nation's largest pharmacy could not keep up with local demand. after calling nearly every, single cvs in the bay area, it's actually easier to show where they still have doses. in palo alto on el camino real, in san jose near westgate mall, and in fremont at the hub, all have a good number of flu shots on hand. >> that doesn't mean that there's no vaccine. people sometimes forget that their own healthcare providers have vaccine. >> reporter: a doctor with santa clara county public health says
budget deficit and debt, the committee sees that the budget deficit will continue to decline over the next two years. but we do not characterize the debt and deficit at unsustainably high levels. we do think the deficit is reduced to $925 billion in 2013 and narrowed further, to $728 billion in 2014. that is down from $1.1 trillion last year. that gives you an overview of the committee consensus opinion and i would be happy to answer any additional questions you might how about the committee's outlook. i will be happy to entertain other questions as well. yes? >> just to clarify a little bit on the gdp dragon on the tax hike, was that on the payroll and income tax increases? >> that is correct. >> the 1.25% dragon, was out for the whole year? -- the 1.25% drag, was that for the whole year? >> we think it will be for the whole year of fiscal 2013. >> with the labour market and some improvement on as quick as it was, without just -- there was some sentiment that it might be slowing down. >> we are seeing drags on consumer spending, but also from the ongoing recession in europe and j
and deficit under control. i talked to one key republican lawmaker who says there are three events coming that will coalesce. debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these problems long term. jenna. jenna: mike, if we're hearing this, then the white house is probably hearing this as well. any reaction from the white house about potentially this plan from republicans? report or the jenna, --. >> reporter: jenna white house officials are saying if congress doesn't want to raise the debt ceiling they should authority rise president obama to do it himself. they should extend it so it doesn't cause concern for the economy and global markets. >> longstanding tradi
in hand with the debt and the deficit. and while republicans love to think that obama's not focused on the debt and deficit, doesn't want to do anything about it, that is absolutely not the case. he has said from the very beginning that it is a big priority but that we need to do it in a balanced way so that we don't hurt those that are most vulnerable. the third is immigration. after this election, the latino community, the latino vote, big reason why this president was re-elected. he owes them that. it has been a priority for him. he is going to find a way to get it done. hopefully republicans understand if they want a chance to get to the white house any time in the next four years, eight years, a generation, they'll have to do something on immigration. >> all right. so, amy, maria's number three is your number one. which is immigration. number two is obama care. number three, mystery scandal. so, let's talk about immigration, first. though i'm dying to get to that scandal. >> good morning. it's so great to see that view behind you. i used to have a view down the mall at my old j
in the details on immigration reform and gun control and deficit reduction at the state of the union next month when he goes back to capitol hill. >>heather: back in 2009 it was 20 minutes so hopefully he will stick to the same. then you, ed henry. >>gregg: now the inaugural theme called "faith in america's future." that was chosen by the joint congressional committee on inaugural ceremonies commemorting the united states perseverance in unity and marks the 150th year since the placement of the statue of freedom atop the new capitol dome in 1863 when crews worked without any pay at all to complete the project, the official inaugural program, launch and other activists is reflecting that theme. >> interesting insight. as we mentioned, today's official swearing in was not open to the public. why is that? according to a tradition dating back to the 19th century, public inaugurations have to be moved to the following monday if the inauguration day falls on a sunday. this has happen add few times before including in 1985 during the second inauguration of ronald reagan and when eisenhower in 1957 was
to quit spending money and try to cut into this deficit. >> reporter: house republicans see the debt ceiling deadline next month as one of the best ways early in the president's second term to force him to accept a new round of spending cuts and may have it on an incremental basis, one, two o three months and using that process to achieve more deficit reduction. >> former speaker of the house and republican presidential candidate newt gingrich. good morning mr. speaker. >> it's good to be with you. >> good to be with you. you say fighting over the debt ceiling is a bad idea for congressional republicans. why? >> because in the end it's a threat they can't sustain. no one is going to default. no one is going to allow the united states to not pay its bills. no one is going to accept the economic costs. it rallies the entire business community to the president's side and the fact is republicans have two much bet ear renas to fight over spending they have a continuing resolution which funds government which comes up at the end of march and they have the sequester,
in government spending which they want. he said trimming the budget deficit should be a different discussion separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills, and we are not a deadbeat nation. >> clearly house speaker john boehner thinks differently. he responded by saying, quote, the american people do not support raising the debt ceiling without reducing government spending at the same time. >>> these pens are designed to be used only by one person, but an investigation discovered that many of them were used on multiple people. >>> are you in hawaii or going there anytime soon? surfers, beware. check out this video. it's a real-life jauss. two sharks were swimming dangerously close to the show. can you believe it? look at that. you could wade in and be bitten, eaten. last year there were a total of 11 shark attacks in hawaii. >> that's what i call dangerously close. >> oh, my goodness. >> so some people in the southeast waking up to the dual danger of flooding and ice. alexandra steele in the
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